Oruka Therapeutics (NASDAQ:ORKA) Stock Price Down 8% – What’s Next?

Oruka Therapeutics, Inc. (NASDAQ:ORKA) dropped 8% during trading on Tuesday . The company traded as low as $18.78 and last traded at $18.88. Approximately 148,125 shares were traded during mid-day trading, a decline of 22% from the average daily volume of 188,809 shares. The stock had previously closed at $20.52.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Leerink Partnrs upgraded shares of Oruka Therapeutics to a “strong-buy” rating in a report on Tuesday, September 17th. Wedbush restated an “outperform” rating and issued a $40.00 target price on shares of Oruka Therapeutics in a report on Tuesday, November 19th. TD Cowen started coverage on Oruka Therapeutics in a report on Monday, September 16th. They set a “buy” rating for the company. Jefferies Financial Group assumed coverage on Oruka Therapeutics in a research note on Friday, September 13th. They issued a “buy” rating and a $40.00 price target on the stock. Finally, Lifesci Capital started coverage on shares of Oruka Therapeutics in a research note on Monday, September 16th. They set an “outperform” rating and a $41.00 price objective for the company. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Oruka Therapeutics has an average rating of “Buy” and a consensus target price of $43.17.

Oruka Therapeutics Price Performance

The company has a market cap of $664.63 million, a price-to-earnings ratio of -3.03 and a beta of 0.81. The company has a fifty day moving average of $22.54.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company acquired a new position in shares of Oruka Therapeutics during the 3rd quarter worth $1,037,000. FMR LLC bought a new stake in Oruka Therapeutics in the third quarter worth $114,763,000. Great Point Partners LLC acquired a new position in Oruka Therapeutics during the third quarter worth $12,614,000. Braidwell LP acquired a new stake in shares of Oruka Therapeutics in the third quarter worth about $12,640,000. Finally, Janus Henderson Group PLC bought a new stake in shares of Oruka Therapeutics during the 3rd quarter worth about $5,840,000. 56.44% of the stock is owned by institutional investors and hedge funds.

Oruka Therapeutics Company Profile

ARCA biopharma, Inc, a biopharmaceutical company, develops genetically-targeted therapies for heart failure and cardiovascular diseases. It is positioned to bring personalized therapies for the treatment of cardiovascular disease, through the use of genetics. Complementing the Company’s cardiovascular science, ARCA’s management team has significant experience in developing and commercializing cardiovascular products.